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Author Topic: [PicoStocks] 100TH/s bitcoin mine [100th]  (Read 467506 times)
joris
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October 17, 2013, 10:47:27 PM
 #1241

... IPO investors and bought at 0.04 BTC. They may hope to get total mining dividends of 0.05 BTC, therefore realizing a tiny return of 0.01 BTC per share.


25% in a year ain't bad. If...

;-)
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October 17, 2013, 11:34:06 PM
 #1242

... IPO investors and bought at 0.04 BTC. They may hope to get total mining dividends of 0.05 BTC, therefore realizing a tiny return of 0.01 BTC per share.


25% in a year ain't bad. If...

...reinvestment and keeping of a certain network-percent.
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October 17, 2013, 11:45:58 PM
 #1243

... IPO investors and bought at 0.04 BTC. They may hope to get total mining dividends of 0.05 BTC, therefore realizing a tiny return of 0.01 BTC per share.


25% in a year ain't bad. If...

...reinvestment and keeping of a certain network-percent.
they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

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kaerf
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October 18, 2013, 12:30:02 AM
 #1244

dave/tytus, what is the status of deployment?
lame.duck
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October 18, 2013, 06:59:02 AM
 #1245

they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

I guess when hardware sales stagnates, they will think over reinvestment
ujka
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October 18, 2013, 07:50:39 AM
 #1246

You missed one zero.... 38 times... And there was some idiot that bought almost 40 times IPO price...
This 'idiot' has 2 ask orders and owns around 1300 share of coint, i would rather  name it: 'nice try'.
Nice feature of picostocks, to peek into others accounts  Wink
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October 18, 2013, 12:30:54 PM
 #1247

Dave, please provide a ETA for 200TH. Are we talking 2013, first quarter 2014, etc.
regards,
Brian


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Bitweasil
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October 18, 2013, 03:31:48 PM
 #1248

Dave, please provide a ETA for 200TH. Are we talking 2013, first quarter 2014, etc.
regards,
Brian

It doesn't matter anymore.  200TH is now a "cute part of the booming network," not a majorly profitable mine.

Need high quality, rack mountable GPU clusters for OpenCL work or password auditing?  http://www.stricture-group.com/
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October 18, 2013, 03:34:26 PM
 #1249

Dave, please provide a ETA for 200TH. Are we talking 2013, first quarter 2014, etc.
regards,
Brian

It doesn't matter anymore.  200TH is now a "cute part of the booming network," not a majorly profitable mine.

This is another badly run mining stock with empty promises.  Not at the labcoin level yet, but we will see..
auto2nr1
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October 18, 2013, 03:43:21 PM
 #1250

Dave, please provide a ETA for 200TH. Are we talking 2013, first quarter 2014, etc.
regards,
Brian

It doesn't matter anymore.  200TH is now a "cute part of the booming network," not a majorly profitable mine.

This is another badly run mining stock with empty promises.  Not at the labcoin level yet, but we will see..

It is quite disappointing to see we have yet another badly managed mining security. Labcoin is another level.
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October 18, 2013, 03:43:54 PM
 #1251

No, it is a failed stock.  MRB lays out this case nicely on the previous page: https://bitcointalk.org/index.php?topic=140366.msg3353664#msg3353664

The 100TH project was supposed to be a significant percent of the network when it fully deployed, and it's not right now, nor can it be, even if it were 200TH tomorrow.

It's failed to meet it's required timeline, and with the flood of ASICs coming out, it's therefore failed completely to meet its goals and expected returns.

Need high quality, rack mountable GPU clusters for OpenCL work or password auditing?  http://www.stricture-group.com/
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October 18, 2013, 03:51:55 PM
 #1252

And those of us that bought in on the fresh promise of 200TH - to already be deployed - got shafted. 

Needless to say, I'm not at all pleased with my investment in this mining project...
ishkur
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October 18, 2013, 03:56:22 PM
 #1253

I'm surprised the price has held at it's current levels. 

Maybe next difficulty change people will see the light
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October 18, 2013, 07:36:45 PM
 #1254

they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

I guess when hardware sales stagnates, they will think over reinvestment

Why? They only promised 200TH. They now own an Asic design and bitcoins. They can now build their own mining farm like they already sell hardware in their own pockets only. They never mentioned that they will go beyond 200th even after many requests. And when they would have wanted to do so then it would have been wiser to say so from the start to attract more investors.

They will reinvest. But without sharing the profits. They never said they will.
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October 18, 2013, 09:59:18 PM
 #1255

they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

I guess when hardware sales stagnates, they will think over reinvestment

Why? They only promised 200TH. They now own an Asic design and bitcoins. They can now build their own mining farm like they already sell hardware in their own pockets only. They never mentioned that they will go beyond 200th even after many requests. And when they would have wanted to do so then it would have been wiser to say so from the start to attract more investors.

They will reinvest. But without sharing the profits. They never said they will.

You can see from picostocks that only under 10% of the shares are owned by "outsiders". Making good on the investors wouldn't cost them much and would gain them a lot of reputation. Reputation could be useful if they really want to promote their exchange and now would be a good time to take a big share of the bitcoin security market because almost all competition is out of the game.
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October 18, 2013, 10:02:47 PM
 #1256

they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

I guess when hardware sales stagnates, they will think over reinvestment

Why? They only promised 200TH. They now own an Asic design and bitcoins. They can now build their own mining farm like they already sell hardware in their own pockets only. They never mentioned that they will go beyond 200th even after many requests. And when they would have wanted to do so then it would have been wiser to say so from the start to attract more investors.

They will reinvest. But without sharing the profits. They never said they will.

You can see from picostocks that only under 10% of the shares are owned by "outsiders". Making good on the investors wouldn't cost them much and would gain them a lot of reputation. Reputation could be useful if they really want to promote their exchange and now would be a good time to take a big share of the bitcoin security market because almost all competition is out of the game.

10%? You mean 90% belongs to the issuer? Why was an IPO needed then? Or did they do buy back most of the ipo'ed shares?
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October 18, 2013, 10:08:36 PM
 #1257

they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

I guess when hardware sales stagnates, they will think over reinvestment

Why? They only promised 200TH. They now own an Asic design and bitcoins. They can now build their own mining farm like they already sell hardware in their own pockets only. They never mentioned that they will go beyond 200th even after many requests. And when they would have wanted to do so then it would have been wiser to say so from the start to attract more investors.

They will reinvest. But without sharing the profits. They never said they will.

You can see from picostocks that only under 10% of the shares are owned by "outsiders". Making good on the investors wouldn't cost them much and would gain them a lot of reputation. Reputation could be useful if they really want to promote their exchange and now would be a good time to take a big share of the bitcoin security market because almost all competition is out of the game.

10%? You mean 90% belongs to the issuer? Why was an IPO needed then? Or did they do buy back most of the ipo'ed shares?

The IPOs idea was to promote the picostocks exchange, they wouldn't have needed any outside investors on the project. No one knows what is going to happen to the project yet, but especially in this market situation where they could grasp a big share of the bitcoin security market it would be strange if they chose not to increase their reputation by compensating the investors somehow. It certainly wouldn't cost them too much.

All the 5 digit investors are insiders and some of the lesser share owner accounts too.
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October 18, 2013, 10:14:49 PM
 #1258

they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

I guess when hardware sales stagnates, they will think over reinvestment

Why? They only promised 200TH. They now own an Asic design and bitcoins. They can now build their own mining farm like they already sell hardware in their own pockets only. They never mentioned that they will go beyond 200th even after many requests. And when they would have wanted to do so then it would have been wiser to say so from the start to attract more investors.

They will reinvest. But without sharing the profits. They never said they will.

You can see from picostocks that only under 10% of the shares are owned by "outsiders". Making good on the investors wouldn't cost them much and would gain them a lot of reputation. Reputation could be useful if they really want to promote their exchange and now would be a good time to take a big share of the bitcoin security market because almost all competition is out of the game.

10%? You mean 90% belongs to the issuer? Why was an IPO needed then? Or did they do buy back most of the ipo'ed shares?

The IPOs idea was to promote the picostocks exchange, they wouldn't have needed any outside investors on the project. No one knows what is going to happen to the project yet, but especially in this market situation where they could grasp a big share of the bitcoin security market it would be strange if they chose not to increase their reputation by compensating the investors somehow. It certainly wouldn't cost them too much.

All the 5 digit investors are insiders and some of the lesser share owner accounts too.

So the ipo was only a gimmick and not needed. That makes the workflow look way worse moral to me. They could have built their own asic anyway and build their own farm.

I guess if the crying goes on that they might say that they will deploy nor 300 or even 400th. But i think that will it be then.

But... you wrote the little bit of shares that were ipo'ed are normal shares since the big rest is of the original shareholders. Then it doesnt make sense to me what happens with the revenue from miner sales. I mean the revenue should go to the initial investors and those have shares. But if only those get the revenue from miner sales it would mean there are two classes of investors owning the same shares but with different rights. Doesnt make sense to me yet when the initial investors really hold 90% of all shares from the start on.
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October 18, 2013, 10:17:24 PM
 #1259

they are counting bitcoin by selling hardware.not interst in reinvestment,maybe put the hashrate to 200TH first.

I guess when hardware sales stagnates, they will think over reinvestment

Why? They only promised 200TH. They now own an Asic design and bitcoins. They can now build their own mining farm like they already sell hardware in their own pockets only. They never mentioned that they will go beyond 200th even after many requests. And when they would have wanted to do so then it would have been wiser to say so from the start to attract more investors.

They will reinvest. But without sharing the profits. They never said they will.

You can see from picostocks that only under 10% of the shares are owned by "outsiders". Making good on the investors wouldn't cost them much and would gain them a lot of reputation. Reputation could be useful if they really want to promote their exchange and now would be a good time to take a big share of the bitcoin security market because almost all competition is out of the game.

10%? You mean 90% belongs to the issuer? Why was an IPO needed then? Or did they do buy back most of the ipo'ed shares?

The IPOs idea was to promote the picostocks exchange, they wouldn't have needed any outside investors on the project. No one knows what is going to happen to the project yet, but especially in this market situation where they could grasp a big share of the bitcoin security market it would be strange if they chose not to increase their reputation by compensating the investors somehow. It certainly wouldn't cost them too much.

All the 5 digit investors are insiders and some of the lesser share owner accounts too.

So the ipo was only a gimmick and not needed. That makes the workflow look way worse moral to me. They could have built their own asic anyway and build their own farm.

I guess if the crying goes on that they might say that they will deploy nor 300 or even 400th. But i think that will it be then.

But... you wrote the little bit of shares that were ipo'ed are normal shares since the big rest is of the original shareholders. Then it doesnt make sense to me what happens with the revenue from miner sales. I mean the revenue should go to the initial investors and those have shares. But if only those get the revenue from miner sales it would mean there are two classes of investors owning the same shares but with different rights. Doesnt make sense to me yet when the initial investors really hold 90% of all shares from the start on.

The stock wasn't supposed to have anything to do with sales or reinvesting. Still the sales affected the investors in this stock and of course they should compensate somehow because of the delays. We will see what they decide to do. Their reputation will sure take a hit if they don't make a fair compensation.

edit: Actually after re-reading the business plan it seems like there is some talk about reinvesting. These parts are pretty interesting:

 "- Upgrade plan from the manufacturer We, as the manufacturer of the ASIC chips, will propose a lucrative upgrade deal for the  mine in case better ASIC chips will be developed. Terms and conditions can not be  specified yet because the ASIC development process is not easy to predict, but we will continuously improve the technology and provide access to the newest hardware for the  100TH-mine project."

"The manufacturer will have the option to drop the current development line and focus on the 28nm chips if the hashrate has risen so high that the deployment of the current chip board could not recover losses. The fundraising for the NRE and hardware costs will be much simpler if a working chip version exists. After deployment of the 28nm technology the manufacturer will equip the 100TH-mine with enough hashing power so that losses can be recovered"
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October 18, 2013, 10:35:39 PM
 #1260

How much longer should we give 100TH actually deploy 100TH/200TH before starting a SCAM ACCUSATION thread?


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